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    Contract of Sales of Goods Act, 1930: Please Read This Chapter From Book As Well

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    Farukh Khan
    This document summarizes key concepts from the Contract of Sales of Goods Act of 1930 in India. It defines a contract of sale as an agreement where the seller transfers property of goods to the buyer for a price. It outlines essential elements of a valid contract of sale like two parties, transfer of property, goods, price, and agreement to sell. The document also differentiates between a sale and agreement to sell, discusses types of goods, consequences of breach, and modes of fixing price. Key concepts are illustrated through examples and exceptions are provided for destruction of goods before or after formation of a contract.

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    Contract of Sales of Goods Act, 1930: Please Read This Chapter From Book As Well

    Uploaded by

    Farukh Khan
    20 views12 pages
    This document summarizes key concepts from the Contract of Sales of Goods Act of 1930 in India. It defines a contract of sale as an agreement where the seller transfers property of goods to the buyer for a price. It outlines essential elements of a valid contract of sale like two parties, transfer of property, goods, price, and agreement to sell. The document also differentiates between a sale and agreement to sell, discusses types of goods, consequences of breach, and modes of fixing price. Key concepts are illustrated through examples and exceptions are provided for destruction of goods before or after formation of a contract.

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    notes

    Original Title

    SALES of Goods

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    This document summarizes key concepts from the Contract of Sales of Goods Act of 1930 in India. It defines a contract of sale as an agreement where the seller transfers property of goods to the buyer for a price. It outlines essential elements of a valid contract of sale like two parties, transfer of property, goods, price, and agreement to sell. The document also differentiates between a sale and agreement to sell, discusses types of goods, consequences of breach, and modes of fixing price. Key concepts are illustrated through examples and exceptions are provided for destruction of goods before or after formation of a contract.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    20 views12 pages

    Contract of Sales of Goods Act, 1930: Please Read This Chapter From Book As Well

    Uploaded by

    Farukh Khan
    This document summarizes key concepts from the Contract of Sales of Goods Act of 1930 in India. It defines a contract of sale as an agreement where the seller transfers property of goods to the buyer for a price. It outlines essential elements of a valid contract of sale like two parties, transfer of property, goods, price, and agreement to sell. The document also differentiates between a sale and agreement to sell, discusses types of goods, consequences of breach, and modes of fixing price. Key concepts are illustrated through examples and exceptions are provided for destruction of goods before or after formation of a contract.

    Copyright:

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    Download as PPT, PDF, TXT or read online from Scribd
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    of 12

    Contract of Sales of Goods Act, 1930

    Chapter 14

    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Definitions/Concepts
    Contract of Sales of Goods: A contract whereby the Seller transfers or agrees to transfers the Property in goods to the buyers for a price. Goods means every kind of movable property other then actionable claims and money.
    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Definitions/Concepts
    Price: Money, consideration for a sale of Goods. Seller A person who sells or agrees to sell goods. Buyer A person who buys or agrees to buy goods.
    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Essentials of a Contract of Sale


    Contract Two Parties Transfer of Property Goods Price Sale and Agreement to Sell Other Formalities.
    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Illustrations
    A Sells his Computer to B for Rs.40,000. A is seller and B is Buyer.

    A Sells his Car to B for Rs.80,000.The Ownership and the possession of the car will transfers from A to B.

    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Illustrations
    Subject Matter A sells his car to B, for Rs.3 lac. It is a contact of sale because here the Subject Matter i.e. car is a movable Thing. A buys a book from S and Pays the Whole Price on A Counter. It is Sale.
    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Illustrations
    A agree to Buy Bs Car for Rs. 2 Lac if his mechanic Approves the car. Its is an Agreement to Sell.

    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Kinds of Goods
    Existing Goods Specific Goods Unascertained Goods Future Goods Contingent Goods

    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Difference between Sale and Agreement to Sell.


    Transfer of Property Type of Goods Nature of Rights

    Risk of Loss
    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Consequences of Breach Right of Resale Nature of Contract Insolvency of Buyer and Seller.
    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Destruction of Goods
    1. Perishing before formation of Contract: seller is responsible 2. Perishing before sale but after agreement to sell: buyer is responsible to receive 3. Perishing of future and contingent goods

    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

    Modes of Fixation of Price


    1. 2. 3. 4. Parties Agreed manner Course of dealings Reasonable price

    PLEASE READ THIS CHAPTER FROM BOOK AS WELL

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